by Jim the Realtor | Dec 7, 2015 | Bubbleinfo TV, Jim's Buyer Representation, Jim's Take on the Market, Listing Agent Practices, Thinking of Buying?, Why You Should Hire Jim as your Buyer's Agent | 2 comments
Wonder what it is like being a home buyer these days?
It takes more than just finding a suitable house:
Are you looking for an experienced agent to help you buy or sell a home?
Contact Jim the Realtor!
CA DRE #01527365, CA DRE #00873197
I can't overstate how strong the new home market is - this is not like 2006-2007 at all. That was good, but the peak froth was concentrated in 10 or so "exceptionally hot" markets...
Now - the ENTIRE country from LA to ND, or from WA to SC is on 🔥 like Vegas in 2006 https://twitter.com/AliWolfEcon/status/1364963372832276491
Today's housing wow: on a call with builders in the South and one just shared that they've raised prices at a community by $250,000 since....... January!!!!!! "All California money"
#housingwows #homesales
The best frenzy sale for February so far (+29% over list price), especially considering it's higher-end, but the month isn't over: https://www.bubbleinfo.com/2021/02/25/frenzy-of-the-month/
Have Mr. Fitch come talk to me.....California was downgraded to “overvalued” after a 7.1% price gain in a year — an increase that was only No. 30 among the states. A year earlier, Fitch graded California’s market as “sustainable” (properly priced). https://www.ocregister.com/2021/02/25/bubble-watch-are-california-home-prices-5-9-too-high/
5.0/5.05.0/5.05.0/5.05.0/5.05.0/5.05.0/5.05.0/5.0
Final score in this negotiation was that we were willing to pay 28% over what the seller paid in 2013, and he held out for 37% more. Good luck to him.
This same scenario happens in the majority of the negotiations – buyers need to make several offers and get lucky just to find the right house, right listing agent, and right seller. Or just pay whatever it takes, which unfortunately for them is what usually happens.
The common response from listing agents is to belittle the comps, insult the buyer’s agent, then blame the seller for sticking to his price. In the end, they just wait for a frustrated buyer to throw in the towel, or for the market to catch up. Either way, houses are selling in spite of the listing agent in many cases.
I think they should make the RE Licensure exam harder.